A) For the purpose of claiming deduction, it is provided in the Tax Code, as amended by CREATE Law, that the taxpayer's interest expense shall be reduced by an amount equal to 20% of interest income subjected to final tax. Question: What do you think is the rationale behind such reduction? Justify your.

Answer rating: 100% (QA)

The rationale behind the provision in the Tax Code as amended by the CREATE Law that allows a reduction of the taxpayers interest expense by an amount ... View the full answer